Bourses start new year with a bang
MUMBAI, JAN. 3. Led by the gas sector, stocks rallied sharply lifting the Sensex to a new record peak at 6679.20 bolstered by strong inflow of foreign institutional investments and continued downtrend in inflation. Extending its gains to second ...

CBI files cases against 5 GTB borrowers
NEW DELHI, JAN. 3.Making one of the first moves against fraudulent activities, which led to the collapse of Global Trust Bank (GTB), the Central Bureau of Investigation (CBI) has filed five cases against one individual and four companies under ...

Use depository network to expand reach of MFs
MUMBAI, JAN. 3.Citing limited infrastructure for mutual funds, a Securities and Exchange Board of India (SEBI) panel has recommended the use of network of depositories and distributors, including investment financial advisors, to expand reach of ...

AIMTC seeks simplified tax regime
NEW DELHI, JAN. 3. The All India Motor Transport Congress today called for simplification of tax regime besides changes in the legal framework governing the road transport sector. It also complained that various state and Central authorities were ...

BrieflyWorld Bank growth forecast
NEW DELHI, JAN. 3.The World Bank said today it would "more or less'' stick to its forecast of 6.5 per cent growth rate for the Indian economy despite the damage suffered by the country in tsunami tragedy. "We have not estimated the impact of ...

Essar hikes CR coil prices
NEW DELHI, JAN. 3.Faced with rising input cost, Essar Steel today hiked the prices of hot rolled (HR) coils by an average of Rs. 500 a tonne. "The prices have been hiked due to rising input cost which is the direct fallout of the railway ...

Cipla ties up with Cymbiotics
NEW DELHI, JAN. 3.Cipla today announced a technical collaboration with the California-based Cymbiotics Inc to launch treatment for arthritis. The company would be marketing Mobix capsules and Mobix topical cream for treatment of osteoarthritis ...

Infosys allots shares
NEW DELHI, JAN. 3.Infosys Technologies has allotted 200 equity shares of par value of Rs. 5 to its employees under its stock option plan. The company has informed the stock exchanges that the board of directors through a resolution dated ...

SBI's loan scheme for gold purchase
COIMBATORE: State Bank of India has introduced a loan scheme for purchase of gold, diamond and silver jewellery (called the SBI Gold Khazana). It is available in select jewellery shops here. The eligible minimum loan amount is Rs. 24,000 and the ...

New directors for Coimbatore Exchange
COIMBATORE: S. Anantharaman, a chartered accountant, and Ashok Lunia, an auditor, have been elected directors of the Coimbatore Stock Exchange at its annual meeting held recently, according to a release from the CSX Members Welfare Association. ...

Sab Wabco is now Faiveley Transport India
HOSUR: The Hosur-based Sab Wabco India Ltd., producer of range of advanced railway braking and coupling equipment, will now be known as Faiveley Transport India Ltd. This is a consequence of the acquisition of the Sab Wabco group, headquartered ...

RBI fixes rate on FRBs at 5.99 p.c.
MUMBAI: The Reserve Bank of India has fixed the rate of interest on the Floating Rate Bonds, 2017, at 5.99 per cent per annum for six months up to July 2. The interest rate of FRBs was set at a mark-up over and above the variable base rate, the ...

Indiabulls divests in consumer finance arm
NEW DELHI: Indiabulls Financial Services today informed stock exchanges about the divestment of its 33.3 per cent equity in its consumer finance subsidiary in favour of Farallon Capital of the U.S. for Rs. 87.60 crores. Farallon Capital, an ...